Q: Hi 5i, your impression of Whitecap Resources earnings please.

Thanks

Q: I am underweight in resources, thinking TVE or WCP...your thoughts on which of these two and perhaps a couple of US midcaps recc...thank you for all that you do.

Q: I have a variety of questions about WCP. First, of course one cannot complain about its very healthy dividend but the share price has languished for quite some time. Can you offer any insight as to why the share price is not pushed higher given the attractive yield?

Second, many commentators refer to O & G companies enjoying substantial cash flows, that many companies are paying down debt at a rapid rate, and that once paid down the companies will return surplus to shareholders in one form or another. What is the state of WCP’s balance sheet in this regard....do they have much debt? Is it being paid down at a rapid rate or does the dividend use up a lot of its cash flow? And if they are paying down debt, when will it be done and what do you think they might do with surplus cash, given its already healthy dividend?

Third, last week there was a headline about WCP doing a sale of part of an asset with Pembina, but it seems most of the sale proceeds were going to a Pembina subsidiary to further the operations of the asset. Is that correct, or can you discern exactly what is going on? And regardless, what does this transaction mean to WCP’s prospects going forward?

One company but lots of different issues. Many thanks for your excellent service.